African Legal Systems

Victor Ediagbonya’s Corporate Governance in Africa offers a thoughtful and carefully structured engagement with one of the most persistent challenges in African corporate governance: the continued prevalence of governance failures despite the widespread adoption of sophisticated legal and regulatory frameworks. Rather than attributing these failures solely to doctrinal gaps, the book invites a deeper examination of the institutional environments within which corporate governance operates, particularly in the banking sector.

The Functional Stakeholder Model represents a significant and original contribution to contemporary corporate governance discourse in Africa. The book succeeds in reframing how corporate governance can be conceptualised and implemented in institutionally challenging contexts, offering a compelling alternative to governance transplantation narratives. By grounding its analysis in African regulatory realities, the book provides a strong foundation for ongoing scholarship and policy engagement. It is therefore strongly recommended to scholars of corporate governance, banking regulation, and African development, as well as practitioners and policymakers seeking context-sensitive approaches to governance reform.

This paper provides a comprehensive scholarly and evaluative overview of Victor Ediagbonya’s Corporate Governance in Africa, highlighting its central arguments, methodological strengths, theoretical contributions, and significance as an important contribution to knowledge in corporate governance, banking regulation, and African political economy.

Research on corporate governance is frequent and covered by many disciplines including of course law and, in many cases, interdisciplinary. What is not frequent however, is an investigation into corporate governance in the African region specific to industry sectors. This is an important gap that needed to be filled, and Dr Ediagbonya is one of the first scholars to commence filling it. His book, Corporate Governance in Africa, is a region specific and industry specific investigation on an appropriate and reliable corporate governance framework which is both stable, yet adaptable for the peculiarities of the region.

This book is an excellent contribution to the analysis of corporate governance frameworks from emerging countries. It analyses a timely issue of corporate governance in the banking industry of two African countries, Nigeria and South Africa, with some of the largest economies based on gross domestic product (see the introduction). The banking sector in Africa is a sector of significant growth, although significantly concentrated. McKinsey insights points out that ‘performance in Africa’s banking system is driven by a diverse mix of markets, each with its own unique strategies and challenges.

This Symposium is dedicated to a critical engagement with Corporate Governance in Africa, a timely and significant contribution to the growing body of scholarship on governance across the continent. The book provides a nuanced exploration of the legal, institutional, and practical dimensions of corporate governance in diverse African jurisdictions, offering insights that are both contextually grounded and theoretically informed. This symposium brings together scholars to reflect on, interrogate, and extend the arguments advanced in this book.